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Side-by-side financial comparison of HP Inc. (HPQ) and Netflix (NFLX). Click either name above to swap in a different company.
HP Inc. is the larger business by last-quarter revenue ($14.6B vs $12.2B, roughly 1.2× Netflix). Netflix runs the higher net margin — 43.1% vs 5.4%, a 37.7% gap on every dollar of revenue. On growth, Netflix posted the faster year-over-year revenue change (16.2% vs 4.2%). Netflix produced more free cash flow last quarter ($5.1B vs $1.4B). Over the past eight quarters, Netflix's revenue compounded faster (13.2% CAGR vs 5.4%).
The Hewlett-Packard Company, commonly shortened to Hewlett-Packard or HP, was an American multinational information technology company. It was founded by Bill Hewlett and David Packard in 1939 in a one-car garage in Palo Alto, California. Growing to become an influential high-tech powerhouse at the heart of Silicon Valley, the company was known for its progressive business philosophy, deemed the HP Way.
Netflix is an American subscription video on-demand over-the-top streaming service. The service primarily distributes original and acquired films and television shows from various genres. It is available internationally in multiple languages.
HPQ vs NFLX — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $14.6B | $12.2B |
| Net Profit | $795.0M | $5.3B |
| Gross Margin | 20.2% | 51.9% |
| Operating Margin | 6.6% | 32.3% |
| Net Margin | 5.4% | 43.1% |
| Revenue YoY | 4.2% | 16.2% |
| Net Profit YoY | -12.3% | 82.8% |
| EPS (diluted) | $0.84 | $1.23 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $12.2B | ||
| Q4 25 | $14.6B | $12.1B | ||
| Q3 25 | $13.9B | $11.5B | ||
| Q2 25 | $13.2B | $11.1B | ||
| Q1 25 | $13.5B | $10.5B | ||
| Q4 24 | $14.1B | $10.2B | ||
| Q3 24 | $13.5B | $9.8B | ||
| Q2 24 | $12.8B | $9.6B |
| Q1 26 | — | $5.3B | ||
| Q4 25 | $795.0M | $2.4B | ||
| Q3 25 | $763.0M | $2.5B | ||
| Q2 25 | $406.0M | $3.1B | ||
| Q1 25 | $565.0M | $2.9B | ||
| Q4 24 | $906.0M | $1.9B | ||
| Q3 24 | $640.0M | $2.4B | ||
| Q2 24 | $607.0M | $2.1B |
| Q1 26 | — | 51.9% | ||
| Q4 25 | 20.2% | 45.9% | ||
| Q3 25 | 20.5% | 46.4% | ||
| Q2 25 | 20.7% | 51.9% | ||
| Q1 25 | 21.0% | 50.1% | ||
| Q4 24 | 21.4% | 43.7% | ||
| Q3 24 | 21.5% | 47.9% | ||
| Q2 24 | 23.6% | 45.9% |
| Q1 26 | — | 32.3% | ||
| Q4 25 | 6.6% | 24.5% | ||
| Q3 25 | 5.1% | 28.2% | ||
| Q2 25 | 4.9% | 34.1% | ||
| Q1 25 | 6.3% | 31.7% | ||
| Q4 24 | 7.1% | 22.2% | ||
| Q3 24 | 7.0% | 29.6% | ||
| Q2 24 | 7.4% | 27.2% |
| Q1 26 | — | 43.1% | ||
| Q4 25 | 5.4% | 20.1% | ||
| Q3 25 | 5.5% | 22.1% | ||
| Q2 25 | 3.1% | 28.2% | ||
| Q1 25 | 4.2% | 27.4% | ||
| Q4 24 | 6.4% | 18.2% | ||
| Q3 24 | 4.7% | 24.1% | ||
| Q2 24 | 4.7% | 22.5% |
| Q1 26 | — | $1.23 | ||
| Q4 25 | $0.84 | $-17.14 | ||
| Q3 25 | $0.80 | $5.87 | ||
| Q2 25 | $0.42 | $7.19 | ||
| Q1 25 | $0.59 | $0.66 | ||
| Q4 24 | $0.93 | $4.27 | ||
| Q3 24 | $0.65 | $5.40 | ||
| Q2 24 | $0.61 | $4.88 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $3.7B | $12.3B |
| Total DebtLower is stronger | $9.7B | $13.4B |
| Stockholders' EquityBook value | $-346.0M | $31.1B |
| Total Assets | $41.8B | $61.0B |
| Debt / EquityLower = less leverage | — | 0.43× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $12.3B | ||
| Q4 25 | $3.7B | $9.1B | ||
| Q3 25 | $2.9B | $9.3B | ||
| Q2 25 | $2.7B | $8.4B | ||
| Q1 25 | $2.9B | $8.4B | ||
| Q4 24 | $3.2B | $9.6B | ||
| Q3 24 | $2.8B | $9.2B | ||
| Q2 24 | $2.4B | $6.7B |
| Q1 26 | — | $13.4B | ||
| Q4 25 | $9.7B | $13.5B | ||
| Q3 25 | — | $14.5B | ||
| Q2 25 | — | $14.5B | ||
| Q1 25 | — | $14.0B | ||
| Q4 24 | $9.7B | $13.8B | ||
| Q3 24 | — | $14.2B | ||
| Q2 24 | — | $12.2B |
| Q1 26 | — | $31.1B | ||
| Q4 25 | $-346.0M | $26.6B | ||
| Q3 25 | $-901.0M | $26.0B | ||
| Q2 25 | $-1.3B | $25.0B | ||
| Q1 25 | $-1.1B | $24.0B | ||
| Q4 24 | $-1.3B | $24.7B | ||
| Q3 24 | $-1.4B | $22.7B | ||
| Q2 24 | $-916.0M | $22.1B |
| Q1 26 | — | $61.0B | ||
| Q4 25 | $41.8B | $55.6B | ||
| Q3 25 | $39.9B | $54.9B | ||
| Q2 25 | $38.8B | $53.1B | ||
| Q1 25 | $38.9B | $52.1B | ||
| Q4 24 | $39.9B | $53.6B | ||
| Q3 24 | $38.1B | $52.3B | ||
| Q2 24 | $37.4B | $49.1B |
| Q1 26 | — | 0.43× | ||
| Q4 25 | — | 0.51× | ||
| Q3 25 | — | 0.56× | ||
| Q2 25 | — | 0.58× | ||
| Q1 25 | — | 0.58× | ||
| Q4 24 | — | 0.56× | ||
| Q3 24 | — | 0.62× | ||
| Q2 24 | — | 0.55× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.6B | $5.3B |
| Free Cash FlowOCF − Capex | $1.4B | $5.1B |
| FCF MarginFCF / Revenue | 9.7% | 41.6% |
| Capex IntensityCapex / Revenue | 1.3% | 1.6% |
| Cash ConversionOCF / Net Profit | 2.04× | 1.00× |
| TTM Free Cash FlowTrailing 4 quarters | $2.8B | $11.9B |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $5.3B | ||
| Q4 25 | $1.6B | $2.1B | ||
| Q3 25 | $1.7B | $2.8B | ||
| Q2 25 | $38.0M | $2.4B | ||
| Q1 25 | $374.0M | $2.8B | ||
| Q4 24 | $1.6B | $1.5B | ||
| Q3 24 | $1.4B | $2.3B | ||
| Q2 24 | $581.0M | $1.3B |
| Q1 26 | — | $5.1B | ||
| Q4 25 | $1.4B | $1.9B | ||
| Q3 25 | $1.4B | $2.7B | ||
| Q2 25 | $-145.0M | $2.3B | ||
| Q1 25 | $72.0M | $2.7B | ||
| Q4 24 | $1.5B | $1.4B | ||
| Q3 24 | $1.3B | $2.2B | ||
| Q2 24 | $462.0M | $1.2B |
| Q1 26 | — | 41.6% | ||
| Q4 25 | 9.7% | 15.5% | ||
| Q3 25 | 10.4% | 23.1% | ||
| Q2 25 | -1.1% | 20.5% | ||
| Q1 25 | 0.5% | 25.2% | ||
| Q4 24 | 10.5% | 13.5% | ||
| Q3 24 | 9.3% | 22.3% | ||
| Q2 24 | 3.6% | 12.7% |
| Q1 26 | — | 1.6% | ||
| Q4 25 | 1.3% | 2.0% | ||
| Q3 25 | 1.5% | 1.4% | ||
| Q2 25 | 1.4% | 1.4% | ||
| Q1 25 | 2.2% | 1.2% | ||
| Q4 24 | 1.1% | 1.5% | ||
| Q3 24 | 1.2% | 1.3% | ||
| Q2 24 | 0.9% | 0.8% |
| Q1 26 | — | 1.00× | ||
| Q4 25 | 2.04× | 0.87× | ||
| Q3 25 | 2.18× | 1.11× | ||
| Q2 25 | 0.09× | 0.78× | ||
| Q1 25 | 0.66× | 0.97× | ||
| Q4 24 | 1.79× | 0.82× | ||
| Q3 24 | 2.23× | 0.98× | ||
| Q2 24 | 0.96× | 0.60× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
HPQ
| Commercial PS | $7.0B | 48% |
| Consumer PS | $3.4B | 23% |
| Supplies | $2.8B | 19% |
| Commercial Printing | $1.2B | 8% |
| Consumer Printing | $296.0M | 2% |
| Corporate Investments | $19.0M | 0% |
NFLX
Segment breakdown not available.
